Sam’s Club Hikes Membership Fees for 1st Time in 9 Years

Walmart-owned wholesale retailer Sam’s Club is raising its yearly membership price for the first time in nearly a decade.

According to multiple media reports Wednesday (Aug. 31), the price increase goes into effect Oct. 17, with club members paying $50 per year, a $5 increase and the first in nine years.

Meanwhile, the price of the retailer’s Plus membership is going up for the first time since its debut in 1999, from $100 to $110.

In a message to members, Sam’s Club CEO Kath McLay said the retailer is “mindful of the financial pressure on wallets right now” and that Sam’s Club will reimburse the fee increase in Sam’s Cash that can be used at its stores.

See also: The Data Point: Do Consumers Spend More If They Belong to Membership Clubs?

Recent research by PYMNTS found that mass merchants use subscriptions because they work for consumers, as well as for the retailer’s bottom line.

As our study noted, “Amazon Prime members spent 113% more than non-Prime members each month when shopping online, for example. At Costco and Sam’s Club, members spend 101% and 109% more in-store than do nonmembers, respectively.”

Walmart is an exception, with data showing Walmart+ members spend 15% more than nonmembers each month when shopping online, and 10% less on in-store purchases.

Learn more: Sam’s Club Accepts SNAP Purchases for Scan & Go

Earlier this year, Sam Club announced customers will be allowed to use federal supplemental nutrition benefits to make purchases digitally and avoid checkout lines.

The move made Sam’s Club the first big retailer to support digital electronic benefits transfer (EBT) payment for SNAP transactions in its stores via its Scan & Go service. Walmart was among the first retailers to take EBT SNAP payments for online grocery orders through a pilot program with the USDA.